{"id":805,"date":"2015-01-20T09:12:19","date_gmt":"2015-01-20T14:12:19","guid":{"rendered":"https:\/\/extension.umaine.edu\/4hfoundation\/?page_id=805"},"modified":"2017-07-26T19:22:50","modified_gmt":"2017-07-26T19:22:50","slug":"small-business-plan","status":"publish","type":"page","link":"https:\/\/extension.umaine.edu\/4hfoundation\/funding\/pitch-your-idea\/small-business-plan\/","title":{"rendered":"4-H Small Business Plan Components"},"content":{"rendered":"<h3>Basic Contact Information for You<\/h3>\n<p>Name, address, phone, e-mail<\/p>\n<h3>Summary (appears first, but write last)<\/h3>\n<p>Tell us about your business idea (100 words or less).<\/p>\n<h3>Business Objectives and Goals<\/h3>\n<p>This section gives you a place to answer the following questions.<\/p>\n<ul>\n<li>Why are you starting a business?<\/li>\n<li>What are your goals?<\/li>\n<li>What return do you expect from your business?<\/li>\n<li>When do you plan to get it started? Pick a specific time and create a timeline.<\/li>\n<li>How will you decide if your business is successful?<\/li>\n<li>What is the time frame for measuring success (i.e., where do I want to be in 1 month, 3 months, 9 months?)?<\/li>\n<\/ul>\n<h3>Business Description<\/h3>\n<ul>\n<li>What is the name of your business?<\/li>\n<li>How would you describe your business?<\/li>\n<li>What product or service will you offer?<\/li>\n<li>Where will you obtain products or supplies?<\/li>\n<li>Where will your business be located?<\/li>\n<li>What is unique about your business?<\/li>\n<li>What is your pricing strategy?<\/li>\n<li>What are your estimated sales in units and dollars?<\/li>\n<\/ul>\n<h3>Market Analysis and Strategy<\/h3>\n<p>Can you make a profit with your business?<\/p>\n<p>This may well depend on the analysis of your market, competition and your location? A market analysis begins with the question, &ldquo;Is there a need for my product or service?&rdquo; To answer this, you must describe the market and your potential customers.<\/p>\n<p>Who are your potential customers?<\/p>\n<p>Where do they live?<\/p>\n<p>What is their age?<\/p>\n<p>Why will customers buy from you instead of the competition?<\/p>\n<p>Describe how you plan to promote your product\/service.<\/p>\n<h3>Financial Information<\/h3>\n<p>As accurately as possible, list all your start-up costs including assets such as equipment, materials and fixtures. Also, list initial operating expenses. Be sure to include inventory, supplies, advertising and promotion costs.<\/p>\n<h3>Management and Organization<\/h3>\n<p>How will your business be organized? Will it be a sole proprietorship or partnership? Outline the responsibilities of all principal personnel in your business: who will do what? Do you have an operating plan or schedule for upcoming work? Have you considered other needs?<\/p>\n<h3>Loan contracts<\/h3>\n<p>There will be an additional contract for the terms of the loan and will need to be signed by an adult if applicant is under the age of 18.<\/p>\n<h3>Resources<\/h3>\n<p>Deb Kantor will be available to help review small business plans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Basic Contact Information for You Name, address, phone, e-mail Summary (appears first, but write last) Tell us about your business idea (100 words or less). Business Objectives and Goals This section gives you a place to answer the following questions. Why are you starting a business? What are your goals? What return do you expect [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":803,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"templates\/page-withsidebar.php","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-805","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/extension.umaine.edu\/4hfoundation\/author\/"},"comment_info":0,"_links":{"self":[{"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/pages\/805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/comments?post=805"}],"version-history":[{"count":1,"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/pages\/805\/revisions"}],"predecessor-version":[{"id":1336,"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/pages\/805\/revisions\/1336"}],"up":[{"embeddable":true,"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/pages\/803"}],"wp:attachment":[{"href":"https:\/\/extension.umaine.edu\/4hfoundation\/wp-json\/wp\/v2\/media?parent=805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}